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The Euro hit a ten week high at the beginning of February, but has been declining since. One reason for this could be the uncertainty in Spain. The Spanish Premier has been accused of corruption and is facing allegations of taking illegal payments. If he resigns, a new election could cause even more uncertainty. These allegations have helped push the equity price of one of Spain’s largest banks down by almost ten percent and has pushed Spanish 10-year Yields up by more than forty basis points.

On another note, it is possible that the QE program is nearing its end. Policy makers will soon stop the QE program; see whether the economy can stand on its own without further assistance, and if it can, they will then start considering what the next steps should be in securing our economy.

Gordon believes that the next move in 10-year Treasury Yields will be moderately bullish. The 10-year treasury yield has been rising steadily since December. In early December it was as low as 1.55 and on Monday it reached 1.95.

To hear the three major reasons Gordon thinks the next move in yields will be bullish, tune into Wells Fargo Securities’ newest video.